NEWS & EVENTS: Breaking News
24.06.2009 09:58
June 24. Sberbank of Russia projects modest net profit in 2009, although its reserves could top RUB 500 bn and is quite sure that there will be no need to raise additional capital this year. “In the first quarter, there will be no huge gap between IFRS and RAS numbers… Net profit under IFRS will be the same as under RAS, or perhaps slightly higher”, Director of Sberbank’s Financial Department Alexander Morozov said. In 1Q 2009, the bank’s RAS net profit amounted to RUB 309 mn. Sberbank expects to close this year in the black. “It (net profit) will be modest, but if the risk level and external circumstances require higher provisions, we have no fears and could post loss”, Deputy Chairman of Sberbank Anton Karamzin said. Sberbank expects to generate interest income of at least RUB 233 bn in the remaining months of 2009.
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